RADA Announces over $6 Million in New Orders
April 08 2019 - 5:44AM
RADA Electronic Industries Ltd. (NASDAQ: RADA)
announced the receipt of over $6 million in new orders in the past
month, which are expected to be delivered during 2019.
Out of these new orders, $5 million were for
RADA’s software-defined AESA radars for international counter UAV
solutions.
The majority of these were initial orders from
new defense customers, which possess significant future potential
for repeated follow-on orders. There were also repeated orders from
existing defense customers, which are expanding their deployments
of their systems that incorporate our radars.
Over $1 million were follow-on orders for RADA’s
legacy avionics, including digital video recorders and ongoing
maintenance orders for RADA’s wide installment base of core
avionics for military airborne platforms.
Dov Sella, RADA’s CEO,
commented, "To date, we have seen good momentum of new
orders, especially for our tactical radars business. RADA is
currently in a strong growth phase. These orders substantiate and
make us confident with our forecast of over $40 million in revenues
for 2019, implying growth of over 40% year-over-year.”
About RADA
RADA Electronic Industries Ltd., an Israel-based
defense electronics company, specializes in the development,
production, and sales of Tactical Land Radars for Force and Border
Protection, and Avionics Systems (including Inertial Navigation
Systems) for fighter aircraft and UAVs.
Company Contact:Gil
Schwartz (VP, BD & Marketing)Tel: +972-9-892-1111
mrkt@rada.comwww.rada.com |
Investor Relations
Contact:GK Investor RelationsEhud Helft/Gavriel FrohweinTel: 1 646
688 3559rada@gkir.com |
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